FTC may take months to rule on $8.5b Amazon-MGM deal

by Jonathan Adams

The Federal Trade Commission is looking into Amazon as part of a number of probes into various Big Tech-related issues

Amazon‘s $8.5 billion deal to buy Metro-Goldwyn-Mayer (MGM) might not be decided for several months with the Federal Trade Commission (FTC), Reuters writes.

As of last Friday, the FTC said that it would be going ahead with a second request in its review of the merger.

According to the report, this indicates that the agency is likely to take months to come to a ruling.

The FTC is looking into Amazon as part of a number of probes into various Big Tech-related issues.

Amazon announced its intent in May to buy the legendary movie studio. The deal would propel Amazon‘s library of content to new levels and will allow it to continue competing with Netflix, Disney+ and others.

Fintech Zoom has written about Amazon‘s intent to buy MGM, reporting that it’s the newest in a series of moves to bolster the non-core part of the business: content for Amazon Prime.

MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming, a joint statement said, according to Fintech Zoom.

MGM’s acquisition marks the passing of the company from a silent film-era giant into the streaming age currently dominating things.

Amazon had announced its intent to help archive and preserve the MGM film library, which contains more than 4,000 films and 17,000 TV shows. And it’ll also work on making them available for viewing in modern ways.

Mike Hopkins, senior VP of Prime Video and Amazon Studios, said the treasure trove of IP that we plan to reimagine and develop together with MGM’s talented team will be the most important thing gained in the transaction.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more